Hilly Zwan Real Estate

Hilly Zwan Real Estate

The second week of January brought some interesting trends to the market! Here's the breakdown: We saw a 16% jump in act...
01/09/2024

The second week of January brought some interesting trends to the market! Here's the breakdown:

We saw a 16% jump in active listings compared to last week, reaching around 7700. That's good news for buyers who have more options to choose from. However, the number of sold listings dropped by 52% week-over-week. This could be due to buyers adjusting to the post-holiday season or perhaps waiting for further interest rate adjustments. The best news for both buyers and sellers is the 33% increase in listings under contract! This signals that buyers are finding their dream homes and sellers are getting their properties snapped up. With a slight dip in interest rates since the first week of January, mortgage payments become more affordable for buyers, potentially fueling further demand.

So, what does this mean for our buyers and sellers?

Buyers: More options and potentially easier loan approvals could be on the horizon!

Sellers: Increased activity and a rise in contracts signify a good time to list your property.

Stay tuned for further updates as the market unfolds! Remember, we're here to navigate you through every step of the buying or selling process.
Feel free to reach out with any questions!



P.S. Share your thoughts on the current market trends in the comments!

Hi Friends! I have some last minute tickets to the Home Show to giveaway at the Mountain America Expo Center in Sandy. D...
01/05/2024

Hi Friends! I have some last minute tickets to the Home Show to giveaway at the Mountain America Expo Center in Sandy. DM me if you would like free tickets!

Housing market update: Pending home sales fell 7.1% in August, echoing a nationwide trend. Yearly, they're down by 18.7%...
10/02/2023

Housing market update: Pending home sales fell 7.1% in August, echoing a nationwide trend. Yearly, they're down by 18.7%, outpacing July's decline. While new home sales stay strong at +5.8%, existing home sales dropped 15.3% from August 2022. Mortgage rates above 7% are limiting buyers, prompting budget adjustments.

NAR's chief economist, Lawrence Yun, also raises an eyebrow at a possible government shutdown, which could stir up more housing market turbulence. “It will disrupt some home sales temporarily due to the lack of flood insurance or mortgage delays,” he says. Looking ahead, Yun hopes the Fed will consider "sharply decelerating rent growth" in future monetary policy decisions. 

Right now, 90% of homeowners have a 6% or less mortgage rate on their home. So here’s what we’re seeing happen with the ...
09/11/2023

Right now, 90% of homeowners have a 6% or less mortgage rate on their home. So here’s what we’re seeing happen with the folks that are moving. And when those rates come down, more buyers run to the market. More sellers are going to enter the market. And sure, monthly payments will be cheaper. But if we’re not being super mindful right now, there might be an opportunity to buy something with less competition or sell with great market conditions before the market gets flooded with inventory.

Market Stats are in! We are above 9,000 active listings for the first time in 2023 and only the second time in the last ...
08/28/2023

Market Stats are in! We are above 9,000 active listings for the first time in 2023 and only the second time in the last 7 years. Remember, more selection for home buyers is not a bad thing. A normal market would carry above 10,000 active listings at a time in Utah. We hit 10,000 once in Oct/Nov of 2022 then it immediately came down. The increase in interest rates are slowing the buying process but much to the feds chagrin has not caused real estate values to plummet. Rather, those with low mortgages are just choosing to stay put for the time being.

Those that still have to move, are going to move which is why I love Gary Keller’s quote below.
“If you do the work, you will have a great year in real estate, regardless of the market,” Keller said. “If you don’t do the work, and spend your time trying to avoid contact with people, you aren’t going to like this industry very much.”

Overall sales are at their lowest levels in 14 years, yet inventory is half of what it was 14 years ago. So good news fo...
07/25/2023

Overall sales are at their lowest levels in 14 years, yet inventory is half of what it was 14 years ago. So good news for us; we are seeing inventory increase and hold on the market a little longer.  This is a positive sign for an overall healthy housing market.  More selection for buyers, less multiple offers “overall”, buyers not having to waive all of their contingencies as a buyer and come to the table with cash difference. Remember, in Utah a normal market would have more than 10,000 available homes at any given time.  5 county data shows overall absorption rates at 4.2 months for single family and 3.8 months for townhome/condo.  In November of 2011 we had an 18 month supply, so perspective matters.

   

The selling season has begun and inventory is on the rise!  📈  If you’ve been holding off on selling because you’re worr...
05/22/2023

The selling season has begun and inventory is on the rise!  📈  If you’ve been holding off on selling because you’re worried about what was happening with home prices and how it would impact the value of your home, it may be time to jump back in to list your house. You don’t have to put your needs on hold any longer because the latest data shows a turn in your favor.

Did you know that the national average for offers on homes is 3.2? I helped 2 amazing clients go under contract this wee...
05/22/2023

Did you know that the national average for offers on homes is 3.2? I helped 2 amazing clients go under contract this weekend and made my best sourdough loaf yet! What did you do this weekend? Are you ready to start your home buying journey? DM me so we can get you started.

A town built on long-term growth and prosperity, Salt Lake County has witnessed remarkable surges in housing prices. 📈💰 ...
05/15/2023

A town built on long-term growth and prosperity, Salt Lake County has witnessed remarkable surges in housing prices. 📈💰 With a solid reputation as one of the most promising real estate investments in the U.S., Salt Lake City has consistently delivered impressive returns. According to NeighborhoodScout's data, home values in Salt Lake City have appreciated by a staggering 161.55% over the past decade! That's an average annual appreciation rate of 10.09%, placing Salt Lake City in the top 10% nationwide for real estate growth. 🏆💼

Investing in Salt Lake City is like unlocking a treasure trove of potential. 🗝️🏡 With its vibrant economy, thriving demographics, and a track record of solid appreciation, this city offers a golden opportunity for long-term real estate investors. ✨🌟

I am THRILLED to share that listings have been up for the past 3 consecutive weeks! We've hit the official bottom and ar...
05/08/2023

I am THRILLED to share that listings have been up for the past 3 consecutive weeks! We've hit the official bottom and are now bucking the national trend. Don't make the mistake of overpricing your listings - even with historically low inventory, proper pricing is key. We've seen an uptick in expired listings, so keep an eye on that, and remember: proper pricing reigns supreme! With 10 showings in the first 14 days, you'll know if you're priced correctly. Location, exposure, price, and condition are the keys to a successful sale.

Market Stats Update! 🏡 Our latest weekly report shows that active listings are on the rise, along with a significant sur...
05/03/2023

Market Stats Update! 🏡 Our latest weekly report shows that active listings are on the rise, along with a significant surge in solds. Although pendings have slightly declined, the reduction in days on market indicates a persistent strong market. This provides a promising opportunity for anyone seeking to make strategic real estate investments in the region. 📈 DM me to learn more!

Despite some challenges, the housing market is still going strong! Single family homes are in high demand, with limited ...
04/26/2023

Despite some challenges, the housing market is still going strong! Single family homes are in high demand, with limited options for buyers, but we're seeing positive signs in Salt Lake County where median prices increased by 5.5% last month. Townhomes and condos are experiencing declining values in some areas, but that's creating great opportunities for buyers to enter the market. The past 30 days have seen lower days on market, which is great news for sellers. While sales volume is down 1.5% month over month, we're still on track to meet predicted numbers for the year. We're excited to see how the market continues to evolve and provide opportunities for both buyers and sellers.
DM me today so we can get you started!

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Midvale, UT
84047

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